That is something that we would not like to occur, but it is there. Failure could happen. It is possible despite your effort, endeavor, dedication, etc. The business undertaken did not function, it wasn’t what you were expecting, or it wasn´t profitable.

     When a business is working on a way, which is doing more harm than good for a while, when you do not succeed a stable position in your sector and expenses are more than the income and the outlook glimpse continues to be shady, you need to prepare yourself for closing down.

     You will see. A business’s prolonged agony is not good. It is not because the income is less than the expenses that is leaving you without liquidity and unable to pay supplier bills, taxes, personal salary, rent, and other bills.
Do not make this situation into a bigger deal than what it is.

     Go ahead and liquidate and pay all your bills. Do not leave any pending because it will always be bothering you.
Think that this business did not go the way you wanted it to go. However, if you have confronted all of your debts with suppliers and institutions, when you do decide to return or decide to do something different your suppliers will always have their doors open for you. This will not cost you to start a new journey. Whereas if you leave bills pending and debts, if you have not been serious, it is possible that you have potentially earned money, but it will cost you a lot more to start again.

     Do not forget that your main capital is yourself. Imagine. Your personal and professional behavior during good and during bad times also.

     How to confront this failure?

     First analyze objectively your mistakes. What have you done wrong? Perhaps you have been out of the market, because you prices were really low, or because of you sales policy. Maybe, the location of the business was not fit and more endless amount of questions.

     Putting the blame on those external factors will just fool you. The only to blame is no one else but you. You are responsible for the failure; there is nothing else to do but to accept it.

     Why? Because you are the only one who has power to decide.

     Probably you made a mistake, or you did not know how to face certain situations. If you did not know how to prepare for the development of this activity, you did not work hard enough, or if you did not pay enough attention, all of this and more was your responsibility.

     If you know where you made a mistake, where you were not correct, what you did wrong, or what you should have done, it’s the only way to transform this experience that at first was negative in to a positive one.

     When one makes an error and knows where, how, and when it happened, it will not repeat. It is important baggage. It is experience. Remember the saying: Experience is the mother of science.

     As I have mentioned before, to blame your failure on others or the circumstances, except yourself, will make you ignorant to yourself, to not be aware of what happened, not seeing the reality. In this case it is common to hear:

     - No, I have done a great job, the problem is… but I have done it real good.
     - If it were not because of… I was doing it right.
     - I did not make a mistake, what happened they told me …. And I believed them… but I made it phenomenal.
     - This failed, but it was not my fault. The fault belongs to… because … but me….

     Do not make this error. Analyze everything that happened and the reason behind impartially and objectively. This will help you and will encourage you to try again.

     Yes, I said try again, because if you get back up when you fall, if you do not let frustration get the best of you, if you do not let yourself fall, that bad experience should encourage you to try again knowing all that you do now. Now you know what to do and not to do, where you tripped, where you made a mistake, that your decision at that moment was not right one. You know how much it costs! You already count with a good experience!

     Analyze it and respond to yourself. Just think if you only knew everything that you know now when you first started.

     In the Latin culture it is not frequent, but in the Anglo-Saxon, especially in the United States, failure is honored. If you have failed you know where you made a mistake and you will not repeat it. This is important.

     - You have experience in error, which you will not replicate.

     Do not make mistakes. I am not telling you to relate too much on failure. However… have you ever tripped or fallen? Well good, you get back up; you get back to your feet and start to walk again. Remember that a lot of people have knowledge, but only few know

how to think, and now you with this experience can count with crucial knowledge that could help you think.
Actually, some people rather to work on a company of the same sector to get experience and then start to run his own company.